Roche Soars on Bullish Giredestrant Forecast

Shares in Roche Holding Ltd (SWX:RO; SWX:ROP) rose by 1.53% to CHF372.40 on August 19, driven by a bullish outlook for its breast cancer drug giredestrant.

Morgan Stanley forecasts peak sales of giredestrant at CHF9 billion, exceeding the market consensus of approximately CHF6.6 billion.

The bank's projection represents a 36% increase over the existing forecast and accounts for 3.9% of Roche's expected group revenue in 2025.

Roche's operating performance in the first half has underpinned its premium valuation, with sales climbing 6% at constant exchange rates but declining by 2% in Swiss francs due to currency movements.